The board of directors of Oman Oil Marketing Co SAOG announced execution of a binding heads of terms with Synergy Investments LLC binding heads of terms with synergy investments to establish electric vehicles one (EVO)tasked with developing Oman's electric vehicle infrastructure. The agreement was signed on July 3, 2023, a contribution of capital will be in kind and not cash, by way of asset transfer in accordance with asset valuation report of both parties. Heads of terms establishes evo's business activities primarily in trading, installation, operation and maintenance of electric vehicle charging stations as well as other services and products that complement Oman's electric vehicles' ecosystem.